4 Top Dividend Stocks With a History of Consistent Cash Payouts: Coca-Cola, ExxonMobil, Johnson & Johnson and Others

Coca-Cola, ExxonMobil, Johnson & Johnson, and other companies excel at generating cash, allowing them to pay substantial dividends. Coca-Cola has paid nearly $100 billion in dividends over 15 years, while ExxonMobil returned $36 billion to shareholders last year. Johnson & Johnson generated $20 billion in free cash flow, covering its dividend outlay. These companies are expected to continue paying dividends due to their durable and growing cash flows.

Coca-Cola, ExxonMobil, and Johnson & Johnson have consistently demonstrated their prowess in generating substantial cash, enabling them to pay substantial dividends. Coca-Cola has paid nearly $100 billion in dividends over the past 15 years, while ExxonMobil returned $36 billion to shareholders last year. Johnson & Johnson generated $20 billion in free cash flow, easily covering its dividend outlay. These companies are expected to continue their dividend payouts due to their durable and growing cash flows.

Coca-Cola (NYSE: KO) owns an iconic portfolio of soft drinks, water, teas, and other beverage brands that generate substantial cash. Last year, the company produced $10.8 billion in free cash flow, $8.5 billion of which it paid out in dividends. Over the last 15 years, it has distributed nearly $100 billion in cash dividends to shareholders. The company's durable and growing cash flows have enabled it to steadily increase its dividend payment. Coca-Cola raised it by 5.2% earlier this year, the 63rd straight year it has increased its payout. That puts the beverage giant in the elite group of Dividend Kings, companies with at least 50 years of consecutive annual dividend increases [1].

ExxonMobil (NYSE: XOM) runs a large-scale global energy business that consistently produces significant cash flows. Last year, Exxon generated $55 billion in cash flow from operations, marking its third-best year in a decade, even though oil and gas prices were around their historical averages. The company produced $36.2 billion in free cash flow and returned $36 billion to shareholders via dividends ($16.7 billion) and share repurchases ($19.3 billion). Those cash returns led the oil sector and ranked as the fifth-highest among S&P 500 companies. The oil giant expects to invest $165 billion into major growth projects and its Permian Basin development program through 2030. These high-return investments should grow its annualized cash flows by $30 billion by 2030, assuming stable oil prices. That has it on pace to produce a huge gusher of $165 billion in cumulative surplus cash over the next five years, which should support continued payout increases. With 42 straight years of dividend growth, Exxon has reached a level that only 4% of companies in the S&P 500 have achieved [1].

Johnson & Johnson (NYSE: JNJ) is a global healthcare leader that produced $20 billion in free cash flow last year. That's after spending over $17 billion in research and development, which made it one of the world's top R&D investors. The company used its free cash flow to pay $11.8 billion in dividends in 2024 and strengthen its fortress-like balance sheet (it's one of only two companies with a AAA credit rating). It has also deployed over $32 billion into strategic acquisitions over the past year and a half. Heavy investments should support continued earnings and cash flow growth. That should enable Johnson & Johnson to extend its streak of dividend increases. It matched Coca-Cola's 63rd annual dividend hike earlier this year, which also qualifies it as a Dividend King [1].

These companies are not alone in their ability to generate significant cash. ConocoPhillips (COP) and other leading exploration and production players also continue to generate resilient free cash flows that support strong shareholder returns. For instance, ConocoPhillips generated $4.7 billion in cash flow from operations in the second quarter of 2025, with expectations for stronger free cash flow generation in the second half of the year. The company's diversified asset portfolio and focus on low-cost production enable it to maintain a solid balance sheet and pursue growth opportunities [3].

In conclusion, Coca-Cola, ExxonMobil, Johnson & Johnson, and other companies like ConocoPhillips are cash-generating machines that provide attractive dividend yields. Their ability to consistently generate substantial cash flows makes them reliable choices for investors seeking steady income and long-term growth.

References:
[1] https://finance.yahoo.com/news/4-dividend-stocks-money-printing-181000023.html
[2] https://www.ainvest.com/news/companies-set-boost-debt-levels-1-trillion-acquisition-wave-2508/
[3] https://www.tradingview.com/news/zacks:c00b85b25094b:0-conocophillips-resilient-free-cash-flows-build-long-term-value/